Motor insurance underwriter Sabre Insurance Group believes its financial results for 2023 will either meet or exceed market expectations.
In a trading update this week, Sabre said: “Since 2022, Sabre has taken rapid and decisive pricing actions to mitigate the ongoing elevated claims inflation. Consequently, it now expects to deliver a strong result for 2023 as it continues to rebuild toward its historical level of profitability.
“The results are anticipated to meet or exceed current market expectations across almost all key measures.”
According to Sabre, its 2023 gross written premium (GWP) is forecast to amount to around £225 million. If reached, the figure will mean a 31% growth in GWP. Motor vehicle premium growth is expected to be around 47%.
Sabre’s profit, meanwhile, will be “towards or slightly above” the upper end of market expectations.
The insurer’s audited full results are slated to be announced on March 19.
What do you think about this story? Share your thoughts in the comments below.
